Home  »  Company  »  Novartis India Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Novartis India Ltd. Company History and Annual Growth Details


- The Company was incorporated on 5th January. The Company was
registered on 13th December, 1947 under the name Ciba Pharma Pvt.
Ltd., as a wholly owned subsidiary of Ciba Ltd., Basle, Switzerland to
take over the trading business in pharmaceuticals from the parent
company's another Indian subsidiary, viz., Ciba (India) Ltd., the name
of which was changed later to Ciba Dyes Pvt. Ltd., with effect from 1st
March, 1948. Ciba Dyes Pvt. Ltd., was registered in India on 13th
June, 1928 and was dealing in dyestuffs and pharmaceuticals.

- The name of the Company was changed from Ciba Pharma Pvt. Ltd., to
Ciba of India Ltd., with effect from 5th January, soon after the
amalgamation of Ciba Dyes Pvt. Ltd., with the Company with effect from
31st December, 1960.

- The name of the Company was again changed to Ciba-Geigy of India
Ltd., with effect from 21st October, 1970. With effect from 1st
January, 1983, the name of the Company was changed from Ciba-Geigy of
India Ltd., to Hindustan Ciba-Geigy Ltd., to reflect the forthcoming
change in its status to that of Indian company on eventual reduction of
the foreign equity of 40%.

- From purely trading activities, the Company moved to the manufacture
of pharmaceutical formulations. Then it undertook the manufacture of a
large number of bulk drugs, many invovling both high technology and
basic manufacture.

- The Company also diversified its activities by undertaking the basic
manufacture of pesticides in a backward region in Goa. It also entered
the export field by establishing a 100% export unit in Kandla Free
Trade Zone.

- Technical know-how for the manufacture of organic phosphates &
Phospites and textile auxiliaries of the Company which would be
implemented in the near future was being supplied to the Company free
of all charge by Ciba-Geigy, Basle, Switzerland.

- The Company holds a letter of intent for the manufacture of EPN
resins and submitted an application to the Government of India, seeking
approval for foreign collaboration for the project with Ciba-Geigy,
Basle, Switzerland.

- The majority of products marketed by the Company bear trade marks
which are covered by Licensed User Agreements dated 14th October, 1971
(As modified by the Agreement dated 14th August, 1974), 5th February,
1975, 29th March, 1978, 5th March, 1981, 12th August, 1982 and 17th
March, 1983 concluded between the Company and Ciba-Geigy, Basle,


- 25,000 rights equity shares issued at par in proportion 1:2 on 9th


- 2,50,000 bonus equity shares issued in proportion 10:3 on 17th


- Pesticides are manufactured at the Company's plant at Santa Monica,
Goa. The pesticides manufactured by the Company are used for the
control of pests affecting cotton, rice, oilseeds, pulses, vegetables,
fruit crops, etc. The Company's marketing efforts are buttressed by
the extension of services which it provides to the agriculturist.

- 1,62,500 bonus shares issued in proportion 1:2 on 18th October.

- Out of the total shares issued till December 1971, 3,16,875 shares
held by CIBA-GEIGY, Ltd. Basle, Switzerland.

- Consumer products were manufactured by the Company at its Bhandup
plant. It also markets toothbrushes. Consumer products of the Company
are being marketed under the brand name 'BINACA'.


- 1,30,000 Bonus shares issued in prop. 4:15 on 16.6.1975.


- 3,08,750 bonus shares issued in prop. 1:2 on 14.11.1977.


- 4,63,125 bonus shares issued in prop. 1:2 on 9.10.1980.


- The Company entered into an Agreement dated 11th March, with
Ciba-Geigy, Basle, Switzerland.


- Ciba-Geigy, Ltd., Switzerland was permitted by the Reserve Bank of
India to disinvest 1,94,783 equity shares of Rs 100 each at a premium
of Rs. 75 per share in favour of the existing resident Indian equity
shareholders. Accordingly, offers were made to the resident equity
shareholders in terms of a letter dated 12th February, 1985.

- The object of the public issue of equity capital during July, was to
dilute the foreign equity from 65% to 51%. The proceeds of the issue
were being utilised to finance the Company's ongoing and future

- 3,81,400 shares issued at a prem. of Rs 40 per share through a
prospectus out of which the following shares were reserved and
allotted: 28,330 shares to employees and working directors of the
Company; 7,080 shares for business associates of the Company and 27,250
shares to financial institutions (in equal prop. to LIC, GIC and UTI).
The balance 3,18,740 shares offered for public subscription during


- The Company was permitted by Ciba Geigy, Ltd., Switzerland to use
their trade mark 'CIBACA' for the consumers products marketed by the
Company. The trade mark 'BINACA' were permitted to be used for a
transitional period upto the end of 1986.

- The epoxy resins marketed by the Company under the brand name of
'Araldite' are required for a host of critical industrial applications
ranging from anti-corrosion to India's aerospace programme.


- A new fomulation voveran SR - Sutained Release were successfully
launched. New products, like Ridomil M272 WP for the control of
diseases affecting grapes and tobacco and Fasinex for the control of
flukes in cattle and sheep were introduced.

- A letter of intent for the manufacture of 700 tonnes per annum of
saturated polyester resins for powder coatings were received.


- A letter of intent was received for the manufacture of 1200 tons p.a.
of speciality chemicals for the detergents, dyes and textile
industries. An agreement was reached with UCB S.A., Belgium, to
manufacture saturated polyester resins locally.

- Another letter of intent was received for the manufacture of
anti-oxidants with the technical know-how to be provided by CIBA-GEIGY
of Switzerland. The plant facilities at the agricultural chemicals
division were being modernised.


- The dyes and chemicals division consolidated its position in the
field of leather chemicals with additional products in synthetic
tanning agents and dyestuffs.

- The letter of Intent for the manufacture of saturated polyester
resins was converted into an industrial licence. A new plant for the
manufacture of saturated polyester resins was proposed to be
implemented shortly in technical collaboration with UCB, SA, Belgium.

- The Company made an offer to Citibank, NA, Mumbai for private
placement of 10,00,000-14% non-convertible debentures of Rs. 100 each.
The debentures would be redeemed at a premium of 5% in three equal
instalments after expiry of 6th, 7th and 8th years from the date of
allotment of the debentures.

- 8,85,387 bonus shares issued in prop. 1:2.


- The sales of consumer health care unit was affected due to the
chloride controversy. During the year, the Cibaca lime gel tooth paste
was test marketed. The agricultural division launched during December,
APRON 35 WS, a seed dressing fungicide for control of the diseases in
bajra, sorghum, rapeseed etc.

- The saturated polyester resin unit in Goa was commissioned.

- The Company re-assesed the anti-oxidants project at Goa both from the
point of view of the devaluation of Rupee and the new import policy
which had affected the business conditions to a large extent.

- The Company, issued 15.5% secured non-convertible debentures
aggregating Rs. 1000 lakhs on private placement basis. These are
redeemable at a premium of 5% in three equal instalments after six
years from the date of allotment of debentures.


- The new monocrotophos plant was commissioned at Santa Monica Works.
The production activities at the Bhandup plant were suspended due to
continued loss for the last 10 years.

- The project to manufacture anti-oxidants at Goa were to be
implemented in phases. During the year, diazinon based formulation
which would be useful as a soil insecticide as well as for control of
important pests in rice, cotton and vegetable crop was proposed to be


- During the year Cibaca Gel toothpaste was introduced. The
Pharmaceutical division introduced Nitroderm-TTS which is used by
angina patients. The performance of agricultural division was affected
due to reduced import duty on pesticides and intermediates and
reduction in excise duty on intermediates. This division was divided
into Crop Protection and Animal Health division.

- The Company entered into a joint venture agreement with Ciba-Geigy
Ltd., Switzerland and Chong Kun Dang Corporation, South Korean to
establish a joint venture company Ciba CKD Biochem Ltd to manufacture
anti-Tuberculosis drug Rifampicin. The plant was to be set up at
Mahad, Maharashtra with an installed capacity of 125 tonnes per annum.


- Protexin and ESB 3, the new products were introduced.

- The new tinopal CBS-X plant was commissioned with a production
capacity of 1000 tonnes per annum along with a state of the art
chemical waste incinerator plant.

1995 - The Company introduced three new products and two line
extension. The Combi-Pack, 4D, which contain 4 essential drugs viz.
Isoniazid, Rifampicin, Pyrazinamide and Ethambutol and Ebutol were
launched. Besides these Regestrone HRT and PZA suspension were also

- Effective from 29th March, Ciba CKD Biochem Ltd. became a subsidiary
of the Company. The shareholders of Cibi-Geigy AG and Sandoz AG
approved for the merger of two companies to form a new company
'Novartis'. Novartis would hold a premier position in its core
business - Pharmaceuticals, agribusiness and Nutrition. It was also
proposed to demerge the speciality chemicals business of Ciba.


- The following new products were added during the year in the pharma
division. (1) Lamisil(R) - for treatment of fungal skin and nail
infections. (2) Leponex(R) - for schizopherenic patients non responsive
to classical neuroleptics. (3) Lioresal - an anti-spastic muscle
relaxant in treatment of spastic conditions. (4) Orfiz - an oral
rehydration salt, a user friendly effervescent ORS tablet. (5)
Parlodel(R) - for infertility and gynaecological disorders. (6)
Voltaflam - a fast acting analgesic for acute painful conditions.

- During the year, the Company proposed to close down its undertaking
at Kandla that was set up to cater exclusively to the export business
in USSR.

- During December, approvals were reserved for restructuring business
operations of the company by denerging. Approval was received for
subdivision of company's shares from existing Rs 100 per shares into 10
equity shares of Rs 10 each and for exchange of 15 Sandoz India Ltd.
shares for 10 shares of Novartis India Ltd.

- The allotment of shares took place: 1. For every one original shares
of Rs. 100 each held in Hindustan Ciba-Greigy Ltd. on 4.11.1997,
sharehodlers would received 5 shares of Rs 10 each in Ciba Geigy
Speciality Chemicals (India) Ltd. 2. For every one sub-divided shares
of 10 held in Hindustan Ciba-Geigy Ltd. on 4.11.1997 shareholders will
secure 1 share of Rs 10 each in Novartis India Ltd. 3. For every 15
shares held in Sandoz (India) Ltd. on 23.10.1997, shareholder will
receive 10 shares of Rs 10 each in Novartis India Ltd.


- The company introduced Topik, a speciality herbicide for wheat.
While consolidating its presence in the metro markets, the company
expanded its presence in additional towns and cities to extend its
reach in the domestic market.

- The joint venture, Indo-Swiss Chemicals Ltd, will market polyester
and celluloid dyes to be manufactured initially by IDI at its Kalyan
and Ranoli plants in Maharashtra and Gujarat.

- Hindustan Ciba-Geigy has trimmed its labour force by 13 per cent and
more workers are likely to accept the voluntary retirement scheme (VRS)
offered by the company.

- The merger of Sandoz India (SIL) with Hindustan Ciba Geigy (HCG) has
taken a new turn even as the Indian affiliates of Ciba-Geigy and
Sandoz, both based in Basle, Switzerland, have begun the integration
process to form Novartis India.

- Walden, a US private equity fund, is picking up an equity stake in
Ciba-CKD Biochem, a joint venture between Novartis, Switzerland,
Hindustan Ciba-Geigy and Korean fermentation major Chong Kun Dang

- Hindustan Ciba Geigy and Sandoz (India) which are on the verge of
merging formally to form Novartis (India) are in moves to transfer
their combined development team to Novartis Enterprises Private Limited
(NEPL), a 100 per cent Indian subsidiary of Novartis AG, the Novartis
parent company.


- Novartis (India)'s pharmaceutical business is likely to get a bonus
addition in November this year with the return to its portfolio of
cough and cold preparation Triaminic.

- The board of Novartis India has approved transfer of the company's
29.22 lakh (9.17 per cent) equity shares held by Ciba India Pvt Ltd in
favour of Novartis AG of Switzerland.


- Novartis India Ltd is close to finalising its first acquisition in
India. The company, through its eyecare business, CibaVision, is
buying an eyedrop brand called Clearine from Optrex Ltd, a part of the
United Breweries group.


- The Company has firmed up plans to spin off its agribusiness into a
separate entity, Novartis Agribusiness India Pvt. Ltd.

- The Company's shareholders are being offered one equity share of Rs 5
each in NAIPL for every one fully-paid equity share of Rs 5 held in
Novartis India.

- Novartis India, the Indian subsidiary of the Swiss pharma giant, has
become a signatory to the Global Working Alliance on Tuberculosis drug
development, paving way for its greater involvement in anti-TB drug

- The Compay has launched Calcium Sandoz as an over-the-counter product
in India in two flavours, American Ice Cream and Orange.


- The P1 + rating assigned to the Rs 50-crore CP programme of Novartis
India Ltd is reaffirmed.

- Novartis India Ltd. together with Ciba Speciality Chemicals India
Ltd. signed a letter of intent with Kingston Properties Private Ltd.
for the sale of their rights and interests in their properties at
Goregaon in Mumbai.


- The Board of Directors of Novartis India Ltd announced changes in its composition effective November 01, 2002. Dr R Thompson who moves to a new assignment with Novartis USA, cases to be a Director. Mr R Sahani, CEO- Pharma will succeed Dr Thompson as Vice Chairman and Managing Director. Asha Mirchnandani Chief Financial Officer will be inducted on the Board as Executive Finance Director.


-Novartis India Ltd has announced the appointment of Anil Matai as the Chief Executive
Officer, Pharmaceuticals.

-Novartis India Ltd has unveiled Myfortic - an enteric-coated advanced formulation under
the immunosuppresant category.

-Novartis announced it has changed its import currency to US Dollar from swis Franc.

-Completed formalities for transfer of its third plot of land situated at Goregaon, to Kingston Properties Private Ltd on receipt of consideration of Rs 171.07 million


-Charak Pharma has inked an alliance with multinational pharma major Novartis India for the promotion of three animal healthcare products from the Charak stable.

-The Switzerland-based Novartis Pharma AG has established a software development centre at Mumbai.

-Novartis establishes third plant in Mumbai

-Biocon's R&D subsidiary, Syngene International, has announced that it has entered into a contract research agreement with Novartis' research and development arm, the Novartis Institutes for Biomedical Research Inc

-Novartis rolls out new spray 'Otrivin-O'
Oct 27, 3:53 pm
Oct 27, 4:14 pm
Subscribe now to get personal finance updates in your inbox!